Electronic transfers

Best Fintech Solution in Canada Jumps 280% in One Year | 2021-09-22 | Invest News

(Image via Fintech Select Ltd.)

Building the strongest infrastructure in the Canadian financial services market.

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Between acquisitions of millions (if not billions) of dollars and remarkable IPOs, 2020 has made history as an exceptional year for the financial services market. Now 2021 is shaping up to be an equally successful year.

It is a valuable market and Fintech Select Ltd. (TSX-V: FTEC, OTC: SLXFF, Forum), backed by its comprehensive package platform, wants to get in on the action.

Fintech Select is a provider of prepaid card programs, online payment platform, and point-of-sale (POS) cryptocurrency platform, all hosted under its umbrella of developed platforms internally. The company also operates a multilingual call center that provides fulfillment and customer service support to customers on all of its platforms and to third-party customers, which will be detailed in this article.

These core assets have been unified and enabled by the company to operate across separate divisions, all working harmoniously together to create a new environment for consumers and businesses, with far-reaching capabilities and potential.

The introduction of complementary technologies and transformative services has stabilized the sustainability of its core business and is integrated with its infrastructure and its partners.

Backed by a mission to provide customers with convenient, choice and cost-effective means to facilitate financial transactions, it is an operation that will grab the attention of merchants. Let’s dig a little deeper into the platform.

TWIFTY – The online payment platform:

Specializing in processing e-commerce, corporate disbursements and remittances, this platform aims to provide convenient and cost-effective online payment processing services worldwide for businesses and individuals.

The platform allows individuals and businesses to register and create their own e-wallets, request and send money, manage mobile payments, integrate shopping cart functionality and load and unload different currencies (including cryptocurrencies) by wire transfer, wire transfer or direct debit. .

This follows the company’s registration as a Canadian Money Services Business (MSB) with FINTRAC, followed by the filing of the TWIFTY ‘trademark in Canada. The move allows Fintech to globally expand its financial payment services to clients on its new e-wallet platform to facilitate fiat and virtual currency transactions.

Business services :

TWIFTY provides credit card processing, e-commerce processing, corporate disbursements, fraud and risk management, invoice management, and dispute resolution.

Onboard merchants can directly accept credit card payments from customers who purchase their products and services.

Businesses and merchants can pay their employees through its mass payment option and send invoices via email to customers who purchase products and services.

Business customers can integrate TWIFTY directly into their shopping cart and checkout systems. This platform streamlines the purchasing process for customers and simplifies receipt payments for merchants.

Services to individuals:

To provide flexible deposit and withdrawal options, TWIFTY also offers localized banking, wire transfers, multi-currency cards, prepaid cards, and mobile payments. It allows customers to load and unload their electronic wallets by bank transfers, open and closed loop cards, bank transfers or direct debit. TWIFTY account holders can easily change the currencies of their funds in their wallets.

The company will provide more information on when the platform goes live. The company is also currently testing its white label version of its online payment platform solution.

SELECTCOIN- The POS cryptocurrency platform:

The buying and selling process around cryptocurrencies can be intimidating and confusing for many, but Fintech Select has developed a robust platform to simplify the process for mass consumers through its point of sale network or site. Web.

It is based on real-time transaction fees where the company functions as an intermediary between consumers and the stock market. The company does not hold any inventory and therefore has absolutely no risk in the event that cryptocurrency prices fluctuate. The company targets customers who want to transact with cryptocurrencies for small amounts, such as $ 100 to $ 1,000. The platform intends to provide customers with choice, convenience and cost-effective means to facilitate their financial transactions and seamlessly participate in the crypto and financial (fintech) technology economy.

The platform has three components:

Buy cryptocurrency:

A customer could buy cryptocurrency at a retail store through the company’s point of sale. The purchased cryptocurrency would be deposited instantly into a virtual digital wallet, which is linked to the customer’s registered closed-loop card which has a unique number.

The new customer who wants to buy cryptocurrency from a retail store that owns the company’s point of sale ‘must purchase a closed loop card in the retail store and have the purchased cryptocurrency deposited into their wallet instantly. digital. Once the customer’s purchase is complete, this transaction is automatically linked to the purchased closed-loop card.

Sell ​​cryptocurrency:

Customers who wish to sell cryptocurrency must register their closed-loop card linked to their digital wallet on the Fintech Select ‘website (www.Selectcoin.ca) and complete the selling process on the same website.

Use cryptocurrency to buy products:

A customer who has a registered card linked to a digital wallet can use their cryptocurrency to purchase products from any retailer who also owns the company’s point of sale.

Fintech Select recently provided an update on its POS Selectcoin platform. The company decided to rebuild this platform based on the latest point of sale software technology. Additional features have been added to the solution, allowing cardholders and e-wallet owners to spend their funds on fiat or crypto at any merchant with Fintech’s point of sale. This feature will allow customers to use their funds to make payments for purchases, either online or at physical merchants.

In a company update for investors and media, Company CEO and President Mohammad Abuleil said, “The solutions that we continue to develop will have a positive impact on the role of Premier. The company’s plan in the financial payment solutions industry and will expand the company’s presence ‘globally to help seize international opportunities. ”

Prepaid card management platform:

Fintech Select can serve a market of millions of underbanked consumers, businesses and governments through its technology platforms.

Fintech Select has provided MasterCard and VISA prepaid cards and related services to major clients and government agencies. It has a proprietary end-to-end prepaid card solution to meet all business needs. This suite of applications is feature rich and works in unison to provide a transparent transaction-based system for all banking needs. The cards come with PIN and chip technology, which ensures the security of clients’ funds. Multi-currency card options allow a customer to load multiple foreign currencies.

Customer service platform:

Fintech Select’s multilingual customer service center operates 24 hours a day, 7 days a week, 365 days a year, and supports the company’s own products and third-party customers, while providing a benefit to the company. company to ensure that its service maintains its high standards and is always available to its customers.

Stock market performances:

With a market cap of just over $ 5 million (CAD), FTEC stock performed well last year, climbing 280% from the same period last year.

(Fintech Select Ltd. stock chart – August 2020 to September 2021. Click to enlarge.)

As a leading provider of prepaid financial services, Fintech Select should be on investors’ radar to deepen their due diligence and learn more.

For investors looking for the next deal, looking for a well-positioned company that is accelerating at an impressive rate, Fintech Select is a prime candidate for any technology portfolio, given its excellent position in the technology industry. e-commerce.

To learn more about the company, visit their website at fintechselect.com.

FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.

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